ORSSCHOOLS - Delayed Subsidy Examples

ORS Public School Employees Retirement System

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Delayed Subsidy Examples

Note: These examples assume that the retiree first worked prior to July 1, 2008 and meets all pension eligibility requirements.

Service Credit Impact on Insurance Subsidy Qualification MIP - 46 with 30
Service purchase before July 1, 2008	Service Purchase on or after July 1, 2008	Earned Service	Age at Termination	Subsidy Begins	Why?
0 years	3 years	27 years	52	Wait 3 years	3 years of service credit were purchased after July 1, 2008
3 years	0 years	27 years	52	Immediately	3 years of service credit were purchased before July 1, 2008
0 years	3 years	27 years	59	Immediately	The member meets all eligibility requirements for an early reduced retirement*
0 years	5 years	27 years	52	Wait 3 years	3 years needed to reach the minimum requirements for 30 years and out
0 years	15 years	15 years	46	Wait 9 years	Must wait until age 55 when member would be eligible for an early reduced retirement*

*Must meet all eligibility requirements for an early reduced retirement.

Service Credit Impact on Insurance Subsidy Qualification Basic and MIP Members - Early Reduced
Service purchase before July 1, 2008	Service Purchase on or after July 1, 2008	Earned Service	Age at Termination	Subsidy Begins	Why?
0 years	3 years	15 years	55	Immediately	The purchased service was not needed to reach minimum eligibility for early reduced retirement*
0 years	3 years	12 years	55	Wait 3 years	3 years of service were purchased after July 1, 2008
0 years	3 years	12 years	59	Wait 1 year	Must wait until age 60
0 years	5 years	12 years	55	Wait 3 years	3 years of service needed to reach the minimum eligibility for early reduced retirement*
0 years	2 years	13 years	55	Wait 2 years	2 years of service were purchased after July 1, 2008
2 years	0 years	13 years	55	Immediately	2 years of service were purchases before July 1, 2008

*Must meet all eligibility requirements for an early reduced retirement.

Service Credit Impact on Insurance Subsidy Qualification Basic - 55 with 30
Service purchase before July 1, 2008	Service Purchase on or after July 1, 2008	Earned Service	Age at Termination	Subsidy Begins	Why?
6 years	4 years	20 years	55	Immediately	The member meets all eligibility requirements for an early reduced retirement*
3 years	1 year	26 years	55	Immediately	The member meets all eligibility requirements for an early reduced retirement*
5 years	5 years	25 years	55	Immediately	5 years of service were purchased before July 1, 2008 giving member 30 years of service
0 years	15 years	15 years	55	Immediately	The member meets all eligibility requirements for an early reduced retirement*
0 years	5 years	25 years	52	Wait 5 years	5 years of service were purchased after July 1, 2008 (Member eligible for pension payment at age 55)*

*Must meet all eligibility requirements for an early reduced retirement.

The retirement plan information that appears on this website is intended to summarize basic provisions of Public Act 300 of 1980, as amended.
Current laws, rates, and factors are subject to change. Should there be discrepancies between the information reflected here and the actual law,
the provisions of the law govern.